Holidays take a hit as UK cost of living fears and Iran war bite

Consumer spending on travel is down for the first time in five years while card spending edges up in March

UK consumers have cut back on travel spending for the first time in five years, as they worry about the rising cost of living amid the Iran war.

Overall consumer card spending increased 0.9% year on year in March, down from February’s 1%, according to data from Barclays.